Photo: Frank Addante
Frank Addante, CEO of display ad giant The Rubicon Project, declined to rule out taking his company public in an IPO even though he’s currently in New York with a deck of slides for investors.Addante previously said an IPO might be in Rubicon’s future, but over lunch at The Hurricane Club on Park Avenue South today he indicated that an IPO was just one of his options.
The main difference between then and now — and the main difference between Rubicon and a lot of adtech startups — is that Rubicon is now profitable and, therefore, has less need for a giant injection of cash.
“We are profitable, both on a net income and a cash flow basis,” he said. “We’re not in a hurry to go public.”
However, Addante is in a hurry to make sure he’s acquired the right businesses that will give him the scale to keep Rubicon as the ad service with the No.1 reach in the U.S., according to comScore, even greater than Google’s. In its five-year life, Rubicon has acquired Mobsmith, News Corp.’s Fox Audience Network, Others Online, and SiteScout.
One of the advantages of using “public currency” as he put it, would be to fund acquisitions. But “if you can do them privately, do them.”
“We’re weighing whether to take public money or private money right now.”
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